You are here
Home > All Crypto > Mark Cuban says he’s locking $50k in tokenized carbon offsets each 10 days

Mark Cuban says he’s locking $50k in tokenized carbon offsets each 10 days

Famed billionaire and actuality TV star, Mark Cuban, has revealed he’s utilizing blockchain expertise to lock up carbon offsets on the Polygon community.

In a Nov. 13 tweet, the billionaire blockchain fanatic revealed that he has been shopping for $50,000 value of carbon offsets and putting them on-chain as Base Carbon Tonnes (BCT) roughly each 10 days because the launch of KlimaDAO.

BCTs are digital belongings bridged onto the Polygon Community by Toucan Protocol that signify one tonne of carbon from the Verified Carbon Unit (VCU) registry. KlimaDAO, a decentralized blockchain undertaking that goals to drive appreciation of the worth of BCT and has amassed over 9 million BCTs, advised Cointelegraph that it makes use of Polygon since it’s a Proof-of-Stake (POS) community with negligible emissions that generates a low carbon footprint.

Cuban indicated in the identical twitter thread that he can be open to working with KlimaDAO to advertise carbon removing maybe over carbon offsets. He stated,

“I’ve been shopping for 50k in offsets each 10 days or so, verifying them and placing them on chain as BCT. I’d like to do the identical factor and possibly extra with removing inside KLIMA.”

Cuban’s assist for KlimaDAO comes as no shock. Klima is in his portfolio of investments. He couldn’t be reached for touch upon the extent of his involvement with Klima.

It is usually not the Mavericks proprietor’s first foray into the blockchain-based ESG house. dClimate introduced in June of this 12 months that Mark Cuban had joined the community as an investor and strategic advisor. dClimate is the primary community for decentralized local weather information.

Cuban stated, “I am excited to be working with a group that’s utilizing blockchain and good contracts to resolve a urgent, real-world downside and that’s constructing a platform to assist organizations around the globe construct local weather resilience.”

Associated: Bitcoin miners look towards nuclear energy for sustainable vitality

Cuban seems to be leaning into blockchain options to deal with local weather challenges, with two of the three environmental investments listed on the Mark Cuban Firms web site specializing in distributed ledger applied sciences.

Final week’s COP26 local weather convention in Scotland additionally noticed the inception of a new blockchain initiative geared toward tackling local weather points.